Russian court orders Glencore to pay shares worth 114.8 million euros in Sberbank lawsuit

Reuters Videos
EVs are getting smarter and cheaper in China
STORY: Light-up emojis. Music for pedestrians outside. In China, electric carmakers are offering up luxury tech – without the luxury price tag – in the battle for buyers. Cars are being loaded with once-expensive interior features and technology for as low as $20,000 – less than half the cost of the average new car in the U.S. Analysts say that poses a big challenge for foreign heavyweights like Tesla and Volkswagen. This is the Nammi – on display here at the Beijing auto show. It’s made by state-owned automaker Dongfeng and sells for under $10,000. That’s around the same as BYD’s Seagull EV – China’s fourth best-selling electric vehicle. The market is also crowded with electric and plug-in vehicles that splash luxury technology. Xpeng is planning to offer an EV with high-level self-driving features – for under $21,000. Analysts say the price of specialized components like sensors needed for self-driving and screens for onboard entertainment has tumbled. That's making competition in the world’s largest auto market all the more fierce… And chipping away at the halo that once hung over foreign brands. That’s according to an outlook from McKinsey analysts released in March. Take Zeekr, for instance. It's the carmaker with those emojis. Here’s its Shanghai head of design, Javier-Garcia Gallardo: “When we see the differences between our product launch in China versus our product launch in Europe and, you know, the technical details are as important as the design and the brand. And this integration of technology is essential for the Chinese customer.” Still, German automakers say they’re not backing down. Here’s Mercedes-Benz CEO Ola Kallenius: “We have a dedicated digital tech team here all the way down to providing things like in the new E-Class, you can sing karaoke. Maybe you don't have that feature in Germany. Maybe you should. But here, customers love it.” Mercedes, as well as Volkswagen, both told Reuters they’re working to deliver those so-called “wow effects” for Chinese buyers.
22 hours ago
Reuters
Starbucks shares hit two-year low as China, US demand clouds outlook
Shares of Starbucks fell 15% to their lowest in nearly two years on Wednesday, after the coffee chain cut annual forecasts on persistent weak demand from inflation-weary U.S. customers and a slower-than-expected economic recovery in China. Price hikes taken last year have forced customers to ditch cafes and restaurants and instead drink coffee at home, hurting business for chains such as Starbucks. "The inability to stop the traffic leakage from the early signs of pull-back in November to date and the worsening macro and competitive dynamics in China may suggest prolonged challenges and no evidence of light at the end of the tunnel," Danilo Gargiulo, senior analyst at Bernstein, wrote in a note.
a day ago
Reuters
JPMorgan says its Russia assets may be seized after lawsuits in Russia, US
NEW YORK (Reuters) -JPMorgan Chase said in a filing on Wednesday that its assets in Russia may be seized after lawsuits in Russian and U.S. courts. The bank faces several legal challenges over its Russian dealings after the U.S. and European nations imposed economic sanctions on Russia in response to its invasion of Ukraine. The value of claims and orders to freeze assets exceeds JPMorgan's available assets in Russia, the largest U.S. lender said.
a day ago
Reuters
Insurer Chubb prepares to pay $350 mln in Baltimore bridge collapse, WSJ reports
Chubb, the insurer of Baltimore's Francis Scott Key Bridge that collapsed in March, is preparing to make a $350 million payout to the state of Maryland, the Wall Street Journal reported on Thursday. The payment is expected to be authorized within weeks, the report said, citing a statement from Henry Daar, head of property claims North America for WTW, the bridge's broker. The $350-million payout could be the first of many related to the disaster that analysts have said might cost insurers up to $4 billion, making it a record shipping insurance loss.
10 hours ago
Moneywise
Californians fed up with fast food chains hiking prices are now biting back — by taking their business elsewhere
Fast food at fine dining prices?
a day ago
The Hill
DOJ, Google to present closing arguments in antitrust trial
The Department of Justice (DOJ) and Google will present closing arguments Thursday and Friday in the government’s case alleging the tech giant has illegally maintained and operated a monopoly in the online search market. The closing arguments will bring Google and the DOJ back to U.S. District Court after concluding a 10-week trial in…
a day ago
Reuters
US job openings slide to three-year low as demand for labor gradually eases
U.S. job openings fell to a three-year low in March, while the number of people quitting their jobs declined, signs of easing labor market conditions that over time could aid the Federal Reserve's fight against inflation. The Job Openings and Labor Turnover Survey, or JOLTS report from the Labor Department on Wednesday was, however, tempered somewhat by other data showing a measure of prices paid by manufacturers for raw materials jumped to the highest level in nearly two years in April as commodity prices increased. Falling goods prices were the major driver of the moderation in inflation last year.
a day ago
Associated Press
Amazon reports strong 1Q results driven by its cloud-computing unit and Prime Video ad dollars
Amazon on Tuesday reported strong results for the first quarter, driven by growth in its cloud-computing unit and new advertising dollars from its Prime Video streaming service. “It was a good start to the year across the business, and you can see that in both our customer experience improvements and financial results,” Amazon CEO Andy Jassy said in a statement. The nation’s biggest online retailer is coming off better-than-expected results for the holiday shopping period, when it saw strong consumer spending aided by discounts and faster shipping speeds.
2 days ago
Moneywise
Over 30 million baby boomers will turn 65 soon — but two-thirds are not financially ready for retirement
Over half of these “peak boomers” have $250K or less in assets.
10 hours ago
CoinDesk
MoonPay Users Can Now Buy Crypto Via PayPal
MoonPay users in the U.S. can seamlessly buy crypto with PayPal. PayPal extends its offering of crypto tokens thanks to MoonPay. Cryptocurrency buying app MoonPay has partnered with fintech giant PayPal (PYPL), the companies said on Thursday.
7 hours ago
The Daily Beast
Family Sues United Airlines After Nightmare Near-Crash Ruins Their Vacation
ReutersA family aboard a Boeing 777 jetliner that suddenly dropped from the sky after takeoff and almost crashed is suing United Airlines over the harrowing incident they say nearly killed three generations of kin in one fell swoop.“This litigation arises out of the near death of eleven members of the Maltz family on United Airlines Flight 1722 on December 18, 2022, due to the negligence of United Airlines, Inc. and its flight crew,” according to a lawsuit filed April 24 in Chicago federal court
2 days ago
AFP News
Record loss for Russia's Gazprom as European market closed
Russian energy giant Gazprom said Thursday it suffered a record annual loss last year as the European market was practically shut to its gas exports due to sanctions over Moscow's military operation in Ukraine.Exports to Europe have long been Gazprom's top earnings source, but following the start of the conflict in Ukraine European nations sought to reduce their reliance upon Russian natural gas.
3 hours ago
Yahoo Finance
Whether Wall Street garden leaves survive noncompete ban is an 'open question'
Some 'garden leave' agreements that Wall Street uses to protect secrets are expected to survive the FTC's new noncompete ban, but some probably won't.
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Reuters
StanChart profit beats forecasts as fee income boost offsets credit losses
LONDON/HONG KONG (Reuters) -Standard Chartered PLC beat forecasts on Thursday with a 5.5% rise in first-quarter pretax profit, as a surge in income from its trading and wealth businesses more than compensated for additional credit losses. The bank, which makes the bulk of its revenue and profits in Asia, saw profit at its investment banking unit climb 13% in the quarter. Peaking central bank interest rates worldwide have capped the recent gains banks have made from lending-based income, putting pressure on them to increase non-interest revenue from such fee-based businesses.
16 hours ago
The Independent
‘The decisions you’re making are going to end with a smoking hole in the ground’: Inside the Boeing catastrophe
‘They were always caught flat-footed by some terrible problem that many people in the workplace knew would happen... And that happened over and over and over and over and over again.’ Io Dodds reports on a corporate nightmare
2 hours ago
SmartAsset
I'm 40, Can I Retire With $1 Million Comfortably?
Retiring at 40 may sound like a pipe dream. But it's entirely within reach if you save $1 million while working. The key elements for achieving this feat are sticking to a budget and implementing a comprehensive retirement strategy. But … Continue reading → The post Can I Retire at 40 With $1 Million? appeared first on SmartAsset Blog.
8 hours ago
CNN Business
Why analysts are expecting a rough earnings report from Apple tonight
Even though Apple has silenced critics and beaten existential crises before, some fans of its minimalist products and investors in its maximalist stock are nervous.
5 hours ago
Reuters
Nigeria court adjourns Binance and execs trial to May 17
A Nigerian court on Thursday adjourned a money laundering trial against cryptocurrency exchange Binance and two of its executives to May 17 after a lawyer for the exchange said he had not been served with documents needed to prepare for the case. Binance and its executives Tigran Gambaryan, a U.S. citizen and head of financial crime compliance, and British-Kenyan Nadeem Anjarwalla, a regional manager for Africa, have been charged with laundering more than $35 million and engaging in specialised financial activities without a licence. On Thursday, Binance's lawyer complained in court that he had not been served with the additional proof of evidence that he would have used to prepare for the case and commence trial.
9 hours ago
Yahoo Finance Video
Starbucks CFO on sales decline: 'We didn't respond fast enough'
Starbucks (SBUX) shares plummeted in its worst intra-day move since 2020 following disappointing second quarter guidance that fell short of Wall Street's expectations. Starbucks CFO Rachel Ruggeri tells Seana Smith and Brooke DiPalma that the beverage giant "didn't respond fast enough" to the decline in sales as the number of occasional customers dropped. She points to upcoming digital initiatives, like the rewards program and in-app offers, that will seek to engage more customers and drive sales. As the company's shares continue to drop, Ruggeri says Starbucks is not considering price cuts, and is instead focused on "investing" in its rewards program. "When we bring customers into the program, we know that their lifetime value increases. They spend more money and they come more frequently. So we see that as our biggest opportunity," she says. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl
a day ago
Reuters
Google faces closing arguments in US market power trial
The U.S. government will layout its antitrust case against Alphabet's Google in closing arguments on Thursday, wrapping up a trial in which the online search leader is accused of breaking the law to stay on top. The U.S. government has hammered away at Google in a trial that started Sept. 12, arguing Google is a monopolist and illegally abused its power to favor its bottom line. The second, against Meta, was also filed during the Trump administration, while Biden's antitrust enforcers have followed with a second case against Google and cases against Amazon.com and Apple Inc.
10 hours ago

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Russian court orders Glencore to pay shares worth 114.8 million euros in Sberbank lawsuit

Latest stories

EVs are getting smarter and cheaper in China

Starbucks shares hit two-year low as China, US demand clouds outlook

JPMorgan says its Russia assets may be seized after lawsuits in Russia, US

Insurer Chubb prepares to pay $350 mln in Baltimore bridge collapse, WSJ reports

Californians fed up with fast food chains hiking prices are now biting back — by taking their business elsewhere

DOJ, Google to present closing arguments in antitrust trial

US job openings slide to three-year low as demand for labor gradually eases

Amazon reports strong 1Q results driven by its cloud-computing unit and Prime Video ad dollars

Over 30 million baby boomers will turn 65 soon — but two-thirds are not financially ready for retirement

MoonPay Users Can Now Buy Crypto Via PayPal

Family Sues United Airlines After Nightmare Near-Crash Ruins Their Vacation

Record loss for Russia's Gazprom as European market closed

Whether Wall Street garden leaves survive noncompete ban is an 'open question'

StanChart profit beats forecasts as fee income boost offsets credit losses

‘The decisions you’re making are going to end with a smoking hole in the ground’: Inside the Boeing catastrophe

I'm 40, Can I Retire With $1 Million Comfortably?

Why analysts are expecting a rough earnings report from Apple tonight

Nigeria court adjourns Binance and execs trial to May 17

Starbucks CFO on sales decline: 'We didn't respond fast enough'

Google faces closing arguments in US market power trial